Laredo Petroleum, Inc. (LPI) Given “Hold” Rating at Cowen and Company

Cowen and Company restated their hold rating on shares of Laredo Petroleum, Inc. (NYSE:LPI) in a research report sent to investors on Sunday. The firm currently has a $12.00 price target on the oil and gas producer’s stock.

Several other equities analysts also recently commented on LPI. Williams Capital set a $14.00 price target on shares of Laredo Petroleum and gave the company a hold rating in a report on Tuesday, August 8th. Scotiabank set a $13.00 price target on shares of Laredo Petroleum and gave the company a hold rating in a report on Saturday, July 1st. Bank of America Corporation upped their price target on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company an underperform rating in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a buy rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Friday, July 14th. Finally, BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the company a hold rating in a report on Sunday, August 13th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $14.73.

Shares of Laredo Petroleum (LPI) opened at 12.86 on Friday. Laredo Petroleum has a 12-month low of $9.57 and a 12-month high of $16.47. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 25.98 and a beta of 1.44. The stock’s 50 day moving average is $12.14 and its 200-day moving average is $12.35.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $187.00 million for the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, analysts expect that Laredo Petroleum will post $0.52 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in shares of Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 468 shares during the period. Public Employees Retirement Association of Colorado lifted its position in shares of Laredo Petroleum by 1.6% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock worth $371,000 after purchasing an additional 546 shares during the period. Amalgamated Bank lifted its position in shares of Laredo Petroleum by 3.1% in the 1st quarter. Amalgamated Bank now owns 20,647 shares of the oil and gas producer’s stock worth $301,000 after purchasing an additional 622 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Laredo Petroleum by 4.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock worth $176,000 after purchasing an additional 766 shares during the period. Finally, CIBC World Markets Inc. lifted its position in shares of Laredo Petroleum by 7.2% in the 1st quarter. CIBC World Markets Inc. now owns 17,010 shares of the oil and gas producer’s stock worth $248,000 after purchasing an additional 1,136 shares during the period.

About Laredo Petroleum

Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.